CECONOMY AGINH O.N. - 1H - Technical analysis published on 09/22/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
67%
17%
My opinion
Bearish under 2.055 EUR
My targets
1.912 EUR (-4.69%)
1.767 EUR (-11.93%)
My analysis
CECONOMY AGINH O.N. is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 2.055 EUR. The next support located at 1.912 EUR is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 1.767 EUR. Below this support, sellers could then target 1.655 EUR. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
7.7
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Additional analysis
Quotes
The CECONOMY AGINH O.N. rating is 2.006 EUR. The price registered a decrease of -0.10% on the session with the lowest point at 1.990 EUR and the highest point at 2.012 EUR. The deviation from the price is +0.80% for the low point and -0.30% for the high point.1.990
2.012
2.006
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of CECONOMY AGINH O.N. in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The probability of a further decline is moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.117 | 1.655 | 1.912 | 2.006 | 2.055 | 2.166 | 2.230 |
| Change (%) | -44.32% | -17.50% | -4.69% | - | +2.44% | +7.98% | +11.17% |
| Change | -0.889 | -0.351 | -0.094 | - | +0.049 | +0.160 | +0.224 |
| Level | Minor | Major | Intermediate | - | Major | Intermediate | Intermediate |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.865 | 1.927 | 1.967 | 2.029 | 2.069 | 2.131 | 2.171 |
| Camarilla | 1.980 | 1.989 | 1.999 | 2.008 | 2.017 | 2.027 | 2.036 |
| Woodie | 1.855 | 1.922 | 1.957 | 2.024 | 2.059 | 2.126 | 2.161 |
| Fibonacci | 1.927 | 1.966 | 1.990 | 2.029 | 2.068 | 2.092 | 2.131 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.767 | 1.909 | 1.997 | 2.139 | 2.227 | 2.369 | 2.457 |
| Camarilla | 2.021 | 2.042 | 2.063 | 2.084 | 2.105 | 2.126 | 2.147 |
| Woodie | 1.739 | 1.896 | 1.969 | 2.126 | 2.199 | 2.356 | 2.429 |
| Fibonacci | 1.909 | 1.997 | 2.052 | 2.139 | 2.227 | 2.282 | 2.369 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.835 | 2.105 | 2.257 | 2.527 | 2.679 | 2.949 | 3.101 |
| Camarilla | 2.294 | 2.333 | 2.371 | 2.410 | 2.449 | 2.487 | 2.526 |
| Woodie | 1.777 | 2.076 | 2.199 | 2.498 | 2.621 | 2.920 | 3.043 |
| Fibonacci | 2.105 | 2.266 | 2.366 | 2.527 | 2.688 | 2.788 | 2.949 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 40.72 | |
| MACD (12,26,9): | -0.0160 | |
| Directional Movement: | -8.059 | |
| AROON (14): | -35.714 | |
| DEMA (21): | 2.007 | |
| Parabolic SAR (0,02-0,02-0,2): | 2.096 | |
| Elder Ray (13): | -0.019 | |
| Super Trend (3,10): | 2.076 | |
| Zig ZAG (10): | 2.000 | |
| VORTEX (21): | 0.8940 | |
| Stochastique (14,3,5): | 11.91 | |
| TEMA (21): | 2.007 | |
| Williams %R (14): | -91.43 | |
| Chande Momentum Oscillator (20): | -0.112 | |
| Repulse (5,40,3): | 0.0660 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0840 | |
| Courbe Coppock: | 5.05 |
| MA7: | 2.071 | |
| MA20: | 2.222 | |
| MA50: | 2.479 | |
| MA100: | 2.379 | |
| MAexp7: | 2.010 | |
| MAexp20: | 2.028 | |
| MAexp50: | 2.065 | |
| MAexp100: | 2.131 | |
| Price / MA7: | -3.14% | |
| Price / MA20: | -9.72% | |
| Price / MA50: | -19.08% | |
| Price / MA100: | -15.68% | |
| Price / MAexp7: | -0.20% | |
| Price / MAexp20: | -1.08% | |
| Price / MAexp50: | -2.86% | |
| Price / MAexp100: | -5.87% |
Quotes :
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15 min delayed data
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Germany Stocks
News
The latest news and videos published on CECONOMY AGINH O.N. at the time of the analysis were as follows:
- EQS-News: CECONOMY AG: FY 2021/22 - Sales above previous year, adjusted EBIT in the upper range of the guidance
- DGAP-Adhoc: CECONOMY AG: CECONOMY AG updates outlook for the financial year 2021/22
- DGAP-News: CECONOMY AG: Closing of transaction with Convergenta expected for early June 2022
- DGAP-News: CECONOMY AG: EGM paves the way for successful further development
- DGAP-Adhoc: CECONOMY AG: Renewed resolution of a General Meeting regarding the transaction with Convergenta Invest GmbH and proposed dividend distribution in the amount of approximately EUR 63 million
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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